IBK Industrial Bank of Korea Suffers 9.4 Billion Won Financial Accident... Same Fraud Case as Korea Development Bank
A financial accident totaling approximately 9.4 billion won has occurred at IBK Industrial Bank of Korea.
On August 20, IBK Industrial Bank of Korea publicly announced that a financial accident totaling 9,439,710,000 won had occurred due to suspected fraud by an external party.
The incident took place between March 2021 and January of this year, but the projected losses have not yet been finalized.
This accident is known to be the same fraudulent case as the one that Korea Development Bank disclosed on August 6, involving an amount of approximately 58.3 billion won. In its notice, IBK Industrial Bank of Korea explained, "We discovered this financial accident after learning about the investigation of another financial institution."
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A representative of IBK Industrial Bank of Korea stated, "Currently, loan accounts are in normal status and there are no overdue transactions," adding, "Whether or not this constitutes fraud will be determined based on the outcome of future investigations."
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